Blank cheque for bond


HI

I just want to know if work bond signed between Employee & employer, is legal?

If any compnay ask for blank cheque of certain amount against bond signed, so one should give that amount cheque.

Need information on above matters. if both points are LEGAL.

 

 
Reply   
 

work bond is LEGAL depends on Terms and Conditions of Bond

BLANK cheque should not be given, it should contain the amount as per BOND

 
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Most of the bonds collected  by the employers in india are onsided that means benefitting the employer in case of breach the same is void according to Indian contract act.

Giving a blank cheque may cause hardship to you in the future so better avoid.

For better advice from LCI narrate the contents of the bond.

 
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FIN

Don't issue a blank cheque to anyone.

Avoid employment with employer that demands to signa Bond and moreso that demands to give a cheque for liquidated damages decided by employer and more so  a blank cheque.

 

 
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FIN

The Bond may very well be unconcionable,unreasonable, void, however you may have to approach court of law and decision of court of law on merits is pleasure of court of law.

In other words you may entangled in litigation.

 

Bond may be valid and enfocreable in certain conditions.

 
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FIN

As suggested by Mr.subramanyam, you may post exatrcts from Bond or attach  the  copy.

You may erase the names,logo etc to maintain the confidentiality.

 

 
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